Home News U.S. EV Tax Credit Unlikely To Be Expanded Despite Push From Automakers

U.S. EV Tax Credit Unlikely To Be Expanded Despite Push From Automakers

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The electric car tax credit in the United States is unlikely to receive an extension because of resistance in President Donald Trump, Bloomberg reports.

For car manufacturers such as Tesla and General Motors, the credit is currently a legislative priority and continues to be credited as helping to accelerate the launch and sales of EVs across the country.

A proposal championed by Michigan Democrat Senator Debbie Stabenow and Republican Senators Lamar Alexander of Tennessee and Susan Collins of Maine would provide automakers a $7,000 tax credit for 400,000 EVs they produce after exceeding the current cap of 200,000 vehicles to receive the full $7,500 credit.

Also Read: US Government Paid Millions In Potentially Bogus EV Tax Credits

“There has been resistance in the president,” Stabenow said. “I don’t even know why the White House would want to cease also the future of the car industry and jobs. ”

Officials in the White House have warned lawmakers that if they try to expand the electric car credit as part of a compromise spending bill, it may tank the measure. The credit is viewed by most in the West Wing and one of many conservatives as mostly benefiting wealthy California residents and Tesla.

“President Trump is struggling to protect middle-class taxpayers by opposing this welfare system to its wealthy,” president of the American Energy Alliance Tom Pyle explained. “The Senate Republican leadership would be sensible to follow his lead. ”

Leaders in the House and Senate are negotiating a package of tax breaks at a government spending bill which ’therefore going this past week to move.

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